1-Hour Order Block Madness On GBP/USD. 2 Order Blocks Hit Target
Happy Wednesday!
Today we are looking at 2 order blocks that played out yesterday.
OB 1) – Yes, I know it sounds like star wars haha!
We can see that the order block zone ( Highlighted in yellow ) was an area of interest and used for liquidity as our entry perfectly sniped.
I always like to place my pending order at the 50% halfway mark in the order block zone.
Price came up and indeed pierced into this zone before pushing down again.
The target was the previous support below which coincidentally gave way for our second OB.
This gave us an RR of 1 / 4
OB 2)
Highlighted in yellow – Gave us a RR of 1 /4
You can see how these order blocks were like ping pong. It bounced from the second one below into the first one, back down into the second one, sniping the second long entry and going back up to the second target.
*NB, these do not always play out like this. It’s about finding price structure that has been broken correctly and trying to attain if the area of interest is at a place where the price needs to come back to push the price further in the opposite direction.
Market makers take advantage of every retail trader like you and me all the time. When we learn how to follow the money, we can start to see these patterns form. They don’t work all the time, but when they do, it can be a great strategy to adopt and use ( only once you’ve backtested it to see what works best for you.
Have a great day.
See you in the next one.
Today we are looking at 2 order blocks that played out yesterday.
OB 1) – Yes, I know it sounds like star wars haha!
We can see that the order block zone ( Highlighted in yellow ) was an area of interest and used for liquidity as our entry perfectly sniped.
I always like to place my pending order at the 50% halfway mark in the order block zone.
Price came up and indeed pierced into this zone before pushing down again.
The target was the previous support below which coincidentally gave way for our second OB.
This gave us an RR of 1 / 4
OB 2)
Highlighted in yellow – Gave us a RR of 1 /4
You can see how these order blocks were like ping pong. It bounced from the second one below into the first one, back down into the second one, sniping the second long entry and going back up to the second target.
*NB, these do not always play out like this. It’s about finding price structure that has been broken correctly and trying to attain if the area of interest is at a place where the price needs to come back to push the price further in the opposite direction.
Market makers take advantage of every retail trader like you and me all the time. When we learn how to follow the money, we can start to see these patterns form. They don’t work all the time, but when they do, it can be a great strategy to adopt and use ( only once you’ve backtested it to see what works best for you.
Have a great day.
See you in the next one.
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